Canadian household credit is on a tear, accelerating growth and setting a new record high. Bank of Canada (BoC) data shows the balance of household debt made a big advance in January. The increase was driven entirely by mortgage debt however, as the balance of consumer debt fell to a 6 month low. Canadian Households […]
Canadian seniors pushed another segment of debt to a new milestone. Office of the Superintendent of Financial Institutions (OSFI) filings show reverse mortgage debt hit a new all-time high in December. The high is the first time reverse mortgages reached a balance of over $4 billion. Reverse Mortgages For those that don’t know, a reverse […]
Canadian households and businesses are falling underwater, despite a booming real estate market. Office of the Superintendent of Bankruptcy Canada (OSB) data shows a big climb for insolvency filings in January 2020. The big jump in filings helped to push the month’s numbers to the highest level since 2010. Canadian Insolvencies Rise To Highest Level […]
Cracks in the Canadian economy are appearing, and it started last year. Statistics Canada (Stat Can) data shows gross domestic product (GDP) per capita fell in Q4 2019. The decline is the second consecutive quarterly drop, and is now back to where it was two years ago. GDP Per Capita Gross domestic product (GDP) and […]
Canadians are becoming a little more cautious about using their homes like ATMs. Office of the Superintendent of Financial Institutions (OSFI) filings show loans secured by residential real estate slowed dramatically in December. This segment of debt has been slowing in growth over the past year. Recently, the balance has begun negative real growth. Canadians […]
Canadian mortgage debt had a strong start to the year. Bank of Canada (BoC) data shows outstanding mortgage credit reached a new high in January. Mortgage credit is now growing at nearly the rate it was before stress testing was introduced. Canadians Now Have Over $1.63 Trillion In Mortgage Debt Canadian mortgage debt ripped to […]
Canada’s gross domestic product (GDP) is increasingly being driven by real estate. Statistics Canada (Stat Can) data shows the FIRE sector was a huge contributor to GDP growth in Q4 2019. In fact, the industry now represents a new record for its size of GDP, beating out the 2016 record. Finance, Real Estate and Insurance […]
Canadian home buyers weren’t shy about borrowing towards the end of last year. Bank of Canada (BoC) data shows a big increase in mortgage credit issued in November. The traditionally slow month, was actually one of the biggest in years. Canadians Borrowed Over $37 Billion In New Mortgage Debt In The Month New mortgage lending […]
Greater Vancouver is following the rest of Canada, with a spike of insolvencies. Office of the Superintendent of Bankruptcy (OSB) data shows households filed a lot more insolvencies in Q4 2019. Overall, Greater Vancouver is showing growth consistent with the province. However, the province is seeing a very rapid rise in the number of distressed […]
Canadian insolvency filings are on the rise, and the country’s largest city is far from immune. Office of the Superintendent of Bankruptcy (OSB) filings show Greater Toronto insolvencies climbed fast in Q4 2019. The whole province of Ontario has seen an acceleration in the number of filings, with the second largest growth in the country […]
